Auction Rules

1. 1.The Art items (or Collectibles) Auction is handled by A10 BY ARTMARK S.R.L («A10») and takes place at A10’ headquarters or at another location that is previously announced, and it is conducted by one or more A10 representatives (auctioneers).

2. The art items (or collectibles), usually, belong to consignors who choose not to have their identity revelled. Whenever the consignors agree to have their identity disclosed, that shall be mentioned in the auction catalogue.

3. By the agreements sign with A10, the consignors guarantee that they are the legal owners of the consigned art items and/or they have the right to sell it. In addition, the consignor shall be liable, directly towards the buyer, in any situation that leads to the subsequent dissolution of the sale and shall indemnify the buyer for the suffered damage. The Consignor with due care shall provide A10 all the documents that he has the legal authority to dispose of the consigned object.

4.1 Prior to the auction, A10 publishes the catalogue of the art items (or collectibles) that are to be sold on the auction, on its web page (www.artmark.ro),4.1.as well as in a printed form. Only the art items listed and briefly described within the catalogue are to be sold on the auction. The descriptions and pictures of the items are indicative and not exhaustive and represent an opinion of A10’ experts and specialists regarding the art items that are up for auction. The auction catalogue will describe only signatures, hallmarks and inscriptions visible on the art item/collectible (will not mention the absence of a signature, apocryphal or incorrect signatures and hallmarks). 4.2. Some art items / collectibles will be attributed, although the signature is missing. Attribution may be presented as possible or probable. A possible attribution shall be mean a professional and educated deduction, having a significant level of documentation that, given the objective aspects that define the item (style, brushstroke, colour, subject, etc.), leads to the potential disambiguation of the author; A probably attribution shall mean a professional and educated deduction, having a high degree of documentation and probability that, given the objective aspects that define the item (style, brushstroke, colour, subject, etc.), leads to identifying the most plausible author. 4.3. As regards, the wristwatches, the diameter measurement involves adding the crown’s width to the dial’s diameter, in millimetres. 4.4. As regards, the wines (or other alcoholic beverages), rare or collectible, given the age, the participant of the auction should consider the possibility that the level of the liquid in the bottle might be lower than originally; that some bottle labels might be damaged, unreadable, missing or replaced with updated ones; that the bottle cork might be partially damaged or replaced; that the taste or colour quality of the beverage might be influenced in a good or a bad manner, from case to case, because of the passing time, including the possibility that the wine might not longer be appropriate for human consumption.

5.1. All items to be sold will be exhibited for observing / inspecting in the exhibition preceding the auction. All items are sold in the condition in which they are at the time of the sale (“as is”). Buyers are encouraged, prior to the auction, to inspect the items that are up for sale for them to be clarified about the condition, content and compliance with the notes from the auction catalogue of the items to be sold in the auction, both at the exhibition and at the auction, so that they can form a personal point of view regarding the item`s qualities/imperfections, including requesting the assistance of a specialist to inspect the item. Any interested person in buying an item may request A10, before the auction, a report with respect to the item’s preservation state, by email to auctions@artmark.ro or using the link on the website at “Other information” section from the lot’s description box. A10 is not responsible for visible defects of the items which were not reported by the buyer prior to the auction, because he had the opportunity to know them beforehand. After the sale, the buyer cannot refuse to pay claiming those defects and A10 will not be responsible nor will be obliged to repair or put into use any item already sold. 5.2. In the case of wristwatches, A10 may offer, directly or through its partners, a warranty of proper functioning of the wristwatch put up for auction and sold. When A10 offers a warranty of proper functioning, the warranty period is mentioned in the catalogue, specifically for every wristwatch lot. The A10 warranty is valid from the date the award. The warranty offered is valid as specified in the Auction Rules upon presenting by the buyer the sale certificate, without any other written certificate from A10. Only the watch mechanism is covered by the warranty. The warranty does not cover the strap, bracelet, case, dial, crown. To avoid any possible confusion, we state that the warranty does not cover the following situations: a)physical or mechanical defects such as: shocks, cracks, chippings, including the case in which they affect, post-auction, the proper functioning of the wristwatch, in all or certain situations, b)burnt or cracked components / parts, etc., including the case in which they affect, post-auction, the proper functioning of the wristwatch, c)using the wristwatch in inappropriate conditions, such as being subject to large variations of temperature and pressure, mechanical shocks, infiltrating liquids, metals or other substances, d)malfunctions due to improper handling and storage, including interaction with detergents, cosmetics or petrochemicals, storage in dusty environments, excessive moisture or corrosive agents, strong magnetic fields, keeping the worn battery inside the watch, e)non-compliance with the recommendations regarding waterproof maintenance or with the user instructions, f)damages caused by age or normal wear and tear (eg. scratching of the glass, alteration of colour or material of metal bracelets or straps - leather, textile, rubber, etc.), g)the lifetime of the battery, quartz or other perishable components. The warranty of proper functioning, as well as any other warranty of authenticity of the watch that would be issued by A10, does not include a warranty that all the components are original or that the watch is, from the perspective of its composition, complete at the moment of first purchase; throughout their lives, watches, especially the complex or vintage ones, of collection, undergo numerous revisions and repairs; thus, some watches may lack indicators, keys or other components/parts, as some may be up for auction not functioning or functioning only partially (i.e. not all watch functions and options). Unless the catalogue states that the sold lot is not functioning (or partially not functioning), the warranty of proper functioning means that A10 will ensure, through its service partner, the repair of the watch, including, where necessary, according to the service partner’s review, replacement of broken components/parts. The warranty is null and void if: a) the buyer personally tried to repair the watch or resorted to the service of another person; b) the buyer, directly or through other persons, made changes to the watch, including improvements of the appearance or performance of the watch. It is A10`s prerogative to ascertain the warranty null and void in these situations, directly or based on its service partner review. A10 does not provide a warranty of proper functioning for: a) the watches for which the catalogue mentions that they are, at the date of the auction, not functioning (especially the case of decorative watches); b) vintage watches (older than 40 years). Warranty claims are addressed to the relevant office within A10 (https://www.artmark.ro/en/departments/watches), A10 may and will refer to other service partners, temporary or specialized, for reasons assessed by A10. The warranty claim suspends the warranty period; however, A10 cannot assume a specific duration for the repairs, including replacement of not functioning components/parts, in particular, but not limited to, cases in which certain repairs must be performed abroad or components/parts should be imported. 5.3.In case of decorative art items and collectibles, such as technical curiosities, which were primary intended for one or more practical functionalities, beyond the possible decorative aspect, A10 does not guarantee, at the date of the sale, the full or partial functionality of those items, nor that all the components/parts are the original ones. Interested people are advised, if the functionality aspect is of the most importance in buying or not, to verify, beforehand, the item, in person, and request A10 to test the item’s functioning in their presence. Interested people must consider the possibility that some items cannot be tested during the exhibition because of the produced noise, because of the fire prevention rules or related to possible technical or technological incompatibilities (for example, the type of the power supply source). Also, because of the human means of communication evolution, some items, even though, theoretically, functioning, cannot be tested in the absence of technical or technological testing environment (such as analogue systems).

6. The duration, the schedule and the location of the exhibitions of the items that are up for auction will be announced, beforehand, publicly, on A10’s web page, within the auction catalogue, as well as through other means. The auction catalogues are available and may be obtained at A10’s headquarters, at the exhibition location, at the auction location or by post.

7. The registration form must be filled in before (in case of online bidding), during or immediately after the auction (in the saleroom). The registration means the unconditional acceptance of the terms and conditions of these Auction rules. The same acceptance value has the bidding, in person or by phone or by written bid (recorded in electronic correspondence or audio/ video recording), followed or not by sale. Should one bidder fail to submit or sign or fill in appropriately the registration form, without being able to justify not signing or filling the form for his benefit, he is nevertheless subject to the terms and conditions of the current Auction rules. By registering/participating at the auction, each bidder agrees with any means of proof which A10 could use for proving the sale, including ascertaining such fact, as provided by the law.

8. Participation at the auction is done by raising the auction paddle, in person or online, containing the registration number of the participant in a certain auction, in response to the price asked by the auctioneer. Might be accepted by the auctioneer as valid another shouted bid offered by a bidder which is for a superior value than the previously accepted price if it is followed by explicit showing of the bidding paddle. When several participants in person at the auction express their will to bid for the asked price, , by raising the auction paddle, the auctioneer shall choose among them and nominate one bidding paddle, preferably following the order in which the participants have raised their paddles (considering also the visibility of the will to bid manifestation). The individuals under 18 years old is prohibited to participate at the auctions of rare or collectible wines (or other alcoholic beverages), or at the auctions of collectible weapons and military accessories (« Military »).

9. The auction catalogue provides, usually, the estimation range of the item’s value (and not the starting price) in the case of art items, respectively the starting price (without providing an estimation range) in the case of collectibles. Some collectibles (such as watches, bags, designer objects, collectible cars), alongside the starting price may be presented a retail price; this refers to the price at which other items of the limited edition can be found for sale at official artist`s / producer`s shops or second-hand shops on reference websites for that type of collectible. The lots (art items that are up for auction) are introduced strictly following their order in the auction catalogue. The auctioneer introduces the lot number and its starting price. The auctioneer has the authority to decide the starting price of each lot, including when starting prices are provided in the auction catalogue or when an unsold lot is put up again for auction at someone’s request. Exceptionally, for certain important lots, A10 may agree with a reserve that may lead to a situation where those certain lots cannot be sold under the reserve. A reserve shall be a price higher than the starting price and it can exceed the minimum limit of estimation stated in the catalogue. The reserve is confidential at least until the moment the related lot is being bid for. If during the bidding of the related lot, the participants’ bids stop at a lower amount than that of the reserve, the auctioneer may disclose and publicly demand the reserve; the auctioneer has full authority to decide whether or not to disclose the value of the reserve, taking into account the level of bidding intrest and the bidding rhythm. If no participant offers the reserve or a higher price, the lot will not be sold; however, it can be reintroduced during the auction by a participant that offers at least the reserve.

10. The lot is sold to the participant that offers the highest price when the following cumulative conditions are met: the auctioneer says “sold” and hits the auction hammer. The highest offer represents irrevocable offer to buy within the terms and conditions of the present Auction rules. The price of the irrevocable offer to buy represents certain, liquid and due receivable.

11. No lot can be sold below the starting price, during or after the auction. The lots which were not awarded may be put up again for auction, when a participant explicitly requires so during the auction.

12. The auctioneer may decide to eliminate from the auction any lot among those exhibited and illustrated in the auction catalogue, for reasons to be considered by the parties in a fair connection with the sound and diligent course of the auction.

13. Whether a lot is not awarded during the auction, it will be returned to its consignor in accordance with the consignment certificate. A lot not awarded may be sold in the following 5 days (10 days in the case of collectible cars) after the auction but prior to its return to the consignor, for a value equal to or higher than the minimum estimation range provided in the auction catalogue, in the case of art items, respectively a value equal to or higher than 125% of the provided starting price, in the case of collectibles (to which the buyer’s premium will be added; The premium varies according to the buyer’s status in relation to A10, see articles 16 and 18 of the Auction rules).

14.1 People interested in the lots which are up for auction can participate even when they are absent using one of the following means: a)registering an online account on the Artmark LIVE® platform, place a bid prior to the auction, for a maximum offered sum, until which the auction software system will bid, on behalf of the physically absent participant, using the electronic auction paddle, which is anonymous and appointed by a unique participant number, assigned to the absent participant’s online account, b)having an opened online account on Artmark LIVE® platform, can participate online during the auction at the bidding of the lots of interest, raising the electronic paddle assigned to the participant’s account at the shouted bids by the auctioneer, the raising of the paddle can be seen by all the participants that are present in the present in the saleroom or online at the auction, c)by a written bid (the form is available to any interested buyer prior to the auction – both online and at the reception), following that the A10’s personnel will bid, based on the written bid, on behalf of the absent participant, until the offered net sum, d)by phone, intermediated by the A10’s personnel, following that the A10’s personnel present in the saleroom (or electronically, if it is the case) will raise the paddle for the offered sums by phone, in real time, by the participant through the phone. 14.2 Artmark LIVE® account owners are informed that they have to use the app with caution, respectively they have to respect the confidentiality of the account’ access data, they must not share the access to the account, they have to make sure that they use the device in complete safety considering that pushing the “bid” button results in submitting a valid bid, without any subsequent confirmation being needed. Artmark LIVE® account owners are personally responsible for all the bids submitted from their account. 14.3 In the situation that more participants that are absent place online written bids or use the form to place bids for the same lot at the same price (maximum), as a rule, the first received bid will have priority. Written bids, online ones or bids that are made through the form are maximal; therefore, the system will bid at most up to the written value, offering the closest bid (and not the maximum written value offered). Participants are asked to consider that given the auction system assigns the bids at a time, consecutively, protecting the maximum value offered by an absent participant, it is possible that the lot can be awarded to another participant (to whom participant the auctioneer assigned the previous bid, based on their offer priority) at the same maximum value offered by the absent participant. Thus, A10 recommends the participants which register written bids prior to the auction, through the form or online, to watch, however, by telephone or online, remotely, the lot that is being bid and for which they made an offer before the auction, in order to decide, knowingly, whether should they continue to bid above the offered value that was made prior to the auction. 14.4 The general order of priority is, firstly, the expressed or shouted bids in the saleroom, then the bids that are made by the absent participants (online, by phone or written offers).

15. The State’s representative may participate at the auction, in equal conditions, to exercise the State’s pre-emption right according to the law. In the same way, a museum or other public institutions may participate at the auction. The State representative or the representative of a museum holds the no. 1 bidding paddle.

16. To the hammer price, A10 will add the buyer’s premium (which includes VAT and related to a sale made in Romania). In the case of fine art, according to the law, an art stamp tax of 0.5% is added distinctively, while, in the case of decorative art and jewellery containing gems, it is applied an additional tax of gemmological certification of 0.5% per lot (no less than 7.5 euros per lot).

17. The shouted and hammer price are set in EUR. Before the auction starts, A10 will announce the conventional exchange rate EUR/USD – RON, used for the current auction. If and when A10 does not announce a conventional exchange rate, the National Bank of Romania’s exchange rate for the auction date, shall apply.

18. The buyer’s premium represents 20% of the hammer price. For A10 members, holding an Artmark Clasic membership card, a reduction of the tax to 18% shall apply. In the case of collectible cars, the buyer’s premium is 14%, to which VAT is added.

19. The awarded lot (art item or collectible) must be paid by the buyer within a week after the sale. The payment is made in RON by Romanian residents and in EUR or USD by non-residents. The payment can be done: a)cash at the A10’s cashier, b)by transfer (account holder « A10 by Artmark s.r.l.», Fiscal Identification number RO40284718, accounts: RO21 UGBI 0000 82200 3986RON (RON), RO87UGBI0000822004003EUR (EUR), RO87UGBI0000822004002USD (USD) (USD), SWIFT: UGBIROBU, Garanti Bank Romania), c)by card (The only accepted cards are those issued by Mastercard and Visa).

20. The lot can be collected as soon as the invoiced amount is fully received (within 2 days from the payment date in the case of collectible cars). Payment can be done in cash or by card, during the auction at the auction location, as well as after the auction at the A10 headquarters. When payment is made by transfer, the invoice can be collected from the auction location, or, after the auction from the A10’s headquarters or a copy of the invoice may be sent by fax or email.

21. The right of withdrawal from the contract (to relinquish the purchase of the awarded lot) is NOT applicable to the lots from the public auctions organised by A10, including the situations where the bid was placed online, A10 auction is NOT conducted by an online or electronic platform, the auctioneer receive and accepts the bids submitted, the auctioneer is present in persona in the saleroom. Likewise, the purchased lots from the public auctions organised by A10 cannot be returned.

22. Whether the invoiced price is not paid in due term, according to these Auction rules, to repair the damage, A10 may choose between: a)requesting the buyer to pay the hammer price and the buyer’s premium, plus a penalty of 1% of the amount due per day of delay, b) retaining, on account of the receivable, in order to be put for sale, art items or collectibles belonging to the buyer, found in the possession of A10, respectively the amounts obtained from their sale, c) terminating the contract altogether with imposing on the buyer who refuses to pay, for a different reason than the one stipulated by art. 28, the payment of double of the buyer’s premium. The statute of limitation term of A10’s right to obtain the repair of the suffered damage is of 5 years from the date of the auction.

23. The transfer of the ownership takes place the moment the possession of the sold lot is transferred from A10 to the buyer or to the transporter (whichever the case may be), provided that the payment of the invoiced amount in fully made by the buyer. Collection and transportation of the sold lot is the buyer’s responsibility and shall be done on buyer’s risk. The buyer shall collect the sold lot within two weeks from the reception of payment by A10, from the headquarters of A10. At request, A10 provides transportation in Romania free of charge, when: a)at least one of the sold lots has a size that makes it undeliverable by car or b)the value of the sold lots exceeds, without the buyer’s premium, the equivalent in RON of 25.000 EUR. In the case of collectible cars, the transfer of ownership takes place the moment the payment of the invoiced amount is made by the buyer, but not prior to the completion by the consignor of the formalities for registration clearance of the vehicle with the authorities in charge. The transfer of the possession of the collectible car will be done by handing over the keys of the vehicle. The transfer of the possession of the collectible car and of the documents needed to have the car registered, including for tax purposes by the buyer shall be done by A10 within 5 working days from the payment date of the invoiced amount. For firearms (historical, collectibles, panoply or hunting firearms), transfer of ownership takes place the moment the buyer pays the invoiced amounts, provided that the buyer will present proof of the documents (authorization, permit, certificate) the law requires for legal possession of such firearms.

24. Given the constraints of A10’s storage, the buyer authorizes A10 to transfer the lots that have not been collected by the buyer within one month in the case of residents, respectively 45 days in the case of non-residents, from the auction date, on the account and on behalf of the buyer, to an external storage facility. After one month from the date of the auction, A10 is no longer liable towards the buyer for the integrity of the sold lot. When the items are collected, the buyer pays the transportation cost to the external storage and the share of the rental fee for the storage, agreed upon by the parties as equal to the equivalent of 10% of the hammer price/ month. If the buyer does not collect the sold items within 6 months from the date when the items were transferred to the external storage, A10 has the right to put (once again) the item up for sale to recover its costs with transportation, depositary and whatever other additional costs. As regards the collectible cars, the buyer shall collect the vehicle within one week from the date of payment. After this term, the buyer authorizes A10 to transfer the collectible car, on the account and on behalf of the buyer, to an external storage. After one week from the date of the auction, A10 is no longer liable towards the buyer for the integrity of the sold lot. When the items are collected, the buyer pays the transportation cost to the external storage and the share of the rental fee for the storage, agreed upon by the parties as equal to the equivalent of 10% of the hammer price/ month. In case the buyer does not collect the sold car within 6 months from the date when the car was transferred to an external storage, A10 has the right to put (once again) the car up for sale to recover its transportation, depositary and whatever other adjacent costs as a result of the termination of the contract.

25.1 In all cases when the state can exercise its pre-emption right regarding an item that is sold at the auction, according to the law, the hammer price does not represent the sale price of the transfer of ownership, but serious purchase bid, obtained through a bidding contest, bid of a particular serious bidder, which the institution that was empowered by the State must equal in exercising its pre-emption right, excluding the A10’s commission. 25.2 In case certain items offered for sale are classified as National Moveable Cultural Heritage, the thesaurus category (lots marked in the auction catalogue with the symbol “T”) and received in consignment, A10 will make the necessary steps to inform the Ministry of Culture about those items, according to the law. Items classified as National Moveable Cultural Heritage, the fund category, are marked in the auction catalogue with the symbol “F”). 25.3 In case the Ministry of Culture has chosen to exercise its pre-emption right prior to the auction date, if the hammer price is below or equal to the price offered by the Ministry of Culture, the ownership will be transferred directly to the Ministry of Culture. If the Ministry of Culture did not exercise its pre-emption right prior to the auction date, the contract with the buyer will be created under the condition that the Ministry does not exercise its pre-emption right within the legal timeframe. If, despite the sale and transfer of possession, the Ministry of Culture chooses to exercise its pre-emption right, in the legal timeframe, by offering an amount equal to the one offered/paid by the buyer (the invoiced amount, excluding the A10 buyer’s premium), the auction will not be effective, the ownership of the lot is transferred to the Ministry of Culture, at the time when the Ministry of Culture will have paid in full the invoiced amounts. 25.4 The provisions from 25.3 apply accordingly in the case of a pre-emption right exercised by the State’s representatives, The National Archives, where the term for exercising the pre-emption right is of 60 days, and the notification to The National Archives regarding the items that are up for auction are the consignor’s duty, and A10 can only act as a representative in this matter; The lots for which a pre-emption right can be exercised will be marked in the auction catalogue with the symbol “A”.

26.1 The buyers are informed that the acquisition of the lots marked with the symbol “C” must legally be communicated to the Ministry of Culture because at the date of the auction they undergo an evaluation for classification in one of the categories of National Moveable Cultural Heritage (fund or thesaurus), accompanied, in the case of classification, by the legal obligations in force, including the pre-emption right of the state. Additionally, the buyers are informed that the acquisition of the lots which are classified in the National Moveable Cultural Heritage (fund or thesaurus) must legally be communicated to the Ministry of Culture. 26.2 Some lots are exhibited and sold being under temporary import - or they came from the European Union and benefit from free circulation, as duly regulated by European legislation. When these lots are of particular importance and meet the classification score from the National Moveable Cultural Heritage legislation perspective, they will be marked with the symbol "IC". In the event of the sale and transfer of ownership to a Romanian resident, therefore of finalizing the import or of keeping the lot that came from the European Union on Romanian territory, the Ministry of Culture will be notified for classification and the lot will follow the same regime as a lot marked with the symbol "C".

27. 27.A10 GUARANTEES THE BUYER THE AUTHENTICITY OF THE ART ITEM SOLD DURING THE AUCTION, for which it issues a sale certificate, the accompanying document imposed to all cultural operators by the Government Decision no. 1420/2003 for the approval of the Norms regarding the trade of movable cultural goods, to which it is added a special clause which states A10’s guarantee with respect to the authenticity of the sold lot, specifying the name of the A10’s internal or external expert, which has authenticated the lot. This guarantee clause imposes to A10 the obligation to guarantee the authenticity of the lot, without limits of time and without needing any other legal or documentary forms. A10 does not issue by default a descriptive expert report, lacking both the frame and the legal ability to do so, this activity being strictly reserved, by law, to the experts – natural persons authorized by the Ministry of Culture, each of his own area of expertise, further attested by practice and acknowledged, each one specifically, by the professional community. A10 can, nevertheless, intermediate, on behalf of the buyer interested in a thorough study of the qualities of the acquired lot, the procurement, on the buyer’s own cost, of such technical and stylistic expert report. Likewise, when the auction catalogue states the fact that an expert, specialized in the work of a certain artist, has confirmed the authenticity, it means that A10 (through its Art History Research Department and/or its Experts Committee) has obtained, by written or verbal correspondence, a confirmation of the authenticity of the lot, by the expert whom the professional community recognizes as leader scholar in the work of a particular artist, without, again, implying that A10 would deliver a written technical and stylistic expert report to the buyer, describing and demonstrating etc. the authenticity of the lot. Nevertheless A10’s liability towards the authenticity of the lot stays fully materially and financially.

28. The buyer may challenge the authenticity of the art item by a written motivated complaint, accompanied by a written opinion issued by an art expert authorized in accordance with the Romanian laws, generally recognized by the professional community for his competence with respect to the artwork of the artist whose paternity is under question mark and enjoying a generally accepted good reputation. A10 has the right to bring, within three months after receiving the complaint, a counter-expert report produced by an expert enjoying the same level of competence and reputation. To avoid any attempt of fraud, A10 marks all the delivered lots with an element of security (a stamp with an alphanumeric code, which cannot be reproduced and is self-destructive if one tries to disengage it), a second copy of the stamp acting as proof.

29. The sale of the art items (or collectibles) is governed by the Romanian law. A sale certificate will be issued to the buyer of an art item as provided by the Appendix no. 6 of the Government Decision 1420/2003 for the approval of the norms regarding the movable cultural goods trade. In the case of wines (or other alcoholic beverages) auction, A10 guarantees for the vintage and the authenticity of the collectible wines put up for sale, issuing to the buyer a sale certificate, as well as, if available, the certificate of the producer.

30. A10reserves the right to publish images and descriptions of the art items (or collectibles) which are sold, in any materials (documentary, journalistic, scientific or for promotional purposes).

31. A10 may request the person causing damage to one of the items put up for sale, during the exhibition or during the auction process, to cover the damage by acquiring the lot and paying a price equivalent to the maximum limit of the estimated value of the lot as provided in the auction catalogue, in the case of art items, respectively equivalent to the double of the provided starting price, in the case of collectibles.

32. A10 informs the buyers that exporting from Romania, in any way, movable cultural goods without obtaining a temporary or permanent export license issued by the Romanian authorities, represents an illegal export operation. If the buyer wishes to export the purchased art item (if not restricted by law – as are lots marked with symbol “F” or “T” – or by the seller’s condition), the buyer may contract, in order to obtain the export license, the representation services of A10. The fee for this service is 150 EUR+VAT, independently of eventual other taxes or costs asked by the issuer of the export license.

33. Likewise, A10 informs the buyers, residents of a state which is not member of the customs territory of the European Union, that the transfer (definitive import) to their states of residence, according to the law governing in each case, may be subject to import duties (custom duties, VAT and/or excise duties etc.), if the conditions provided by the law are met and if the buyer does not obtain an exemption from these duties.

34. According to the law (Law no. 182/2000 and Government Decision no. 518/2004), the contemporary cultural goods can be exported permanently or temporarily without an export license, if it is declared to the customs that those goods were created by living artists. For this, A10 may issue, upon request, free of charge, an attestation in accordance with the model provided by Appendix no. 5 of the Government Decision 518/2004 on the approval of the methodological norms regarding temporary or permanent export of movable cultural goods.

35. Sometimes, general auctions organised by the Auction House A10 by Artmark have one or more lots which are up for auction for a charitable purpose or have a distinctive charitable section. Usually, the Auction Rules are applicable to these situations. The charitable lots from the general auctions can be, regularly, marked with a distinctive logo that represents a red heart. The charitable auction special rules will be applicable if only it is expressly provided in the auction catalogue (and in the public announcements that are made by the auctioneer before the auction).

36. Should there be any difference between the online version of the Auction Rules and the version included in the printed auction catalogue, the online version prevails, presumed to be more up to date at the time of the auction. Similarly, regarding the auction catalogue, modifications and corrections of the lot descriptions and bidding conditions of the printed version may occur in the online version, the latter prevailing. Also, prior to the auction session, the auctioneer might announce, in the auction room (and live on Artmark LIVE®), changes and corrections to the lot descriptions and bidding conditions, which prevail over those in the printed version of the catalogue.